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Winners and losers from Albanese’s first Australian budget

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Labor has delivered its first Australian federal budget since 2013, with Treasurer Jim Chalmers addressing the nation.

As Australians face increasing cost of living pressures, the government is hoping to fulfill some election promises and set the tone for how it will govern.

Winners and losers

Families – Winner. There’s $4.7 billion worth of spending in the budget over the next four years.

Wages – Loser. Rising inflation means real wages are expected to continue to go backwards for another year at least. Unemployment is forecast to increase and the electricity and gas forecasts are so concerning that Treasurer Jim Chalmers is even threatening market intervention.

The environment – Winner. More money has been set aside for conservation.

Law breakers – Loser. Fines are set to increase, for example for tax evasion.

This financial year’s deficit forecast has halved and net debt is tipped to be about $100 million lower than originally forecast for 2026.

But Australia is facing a future where an ageing population is going to hit the government in two ways — fewer people paying income tax and greater welfare payments.

Female participation

Labor’s focus is firmly on improving female workforce participation with its election policy to increase childcare subsidies for families earning less than $530,000 a year.

“Cheaper child care is a game-changing investment in families, our workforce, and our economy,” he argued early in his budget speech.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Money

Rich listers secret’s: how billionaires build their wealth

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Australian billionaires, including Gina Rinehart, have built their wealth by investing in valuable, income-generating assets.

For the average person looking to build their wealth, one possible option could be to buy quality assets like stocks when the market dips.

Mark Wyld from MW Wealth joins to discuss. #featured #trending #wyld money

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Buyer’s agent unveils key to building wealth through property

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Unveiling the strategies for game-changing wealth building through property.

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by Buyers Agent, Jack Henderson from Henderson Advocates. #trending #wyld money

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Experts unveil the secrets to crypto ‘prop trading’

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What is crypto proprietary trading and how can it benefit you?

Bitcoin 101 is an exciting talk show that educates viewers on safe participation in crypto markets, providing timely updates and expert insights for informed decision-making.

Hosted by the Managing Director of Crypto CallsCheyne Kupfer.

In this episode, Cheyne sits down with Growth Partner at Crypto Calls, Jack Birkinshaw to talk all things prop trading.

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